Worcester Business Journal

www.wbjournal.com • Worcester Business Journal • 2 018 Economic Forecast 27 At Shepherd & Goldstein, we have the knowledge, technical expertise and experience to get the job done right. Our experts have hundreds of combined years of experience and our expertise cuts across dozens of industries. Combine that with our Awesome Service Guarantee ® - our commitment to customer care and personal attention you won't find anywhere else - and you will see why so many great organizations choose Shepherd & Goldstein as their Accounting Firm of Choice. Learn how we can help your business grow profitability and create greater business value. Call Terry Shepherd at 508-757-3311 or visit sgllp.com. • Accounting & Tax Services • Business Consulting • Business Transition • Value Growth Planning • Financial Services • Retirement Planning 508-757-3311 • www.sgllp.com WORCESTER • FRAMINGHAM • MILFORD • YARMOUTH Make Sure Your Team Will Be There When You Expect Them. EXPERIENCE MATTERS Mass. health have better earnings W orcester-based Fallon Health in November was among three Massachusetts health plans report- ing net income and operating gains in the third quar- ter ending Sept. 30, with Fallon reporting net income of $3 million and an operating surplus of $500,000. That's a reversal from a $6.2-million net loss for the same quarter last year, and an operating loss of $8.6 million. Membership for Fallon increased by about 3,000 over 2016. Watertown-based Tufts Health Plan made gains over last year with third-quarter net income of $42.5 mil- lion and a $36.2 million operating profit, compared to net income of $19.1 million and operating income of $13.2 billion in 2016. Harvard Pilgrim, headquartered in Wellesley, netted $7.8 million and significantly cut its operating loss over last year. In the third quarter of 2016, Harvard Pilgrim reported a net loss of $12.7 mil- lion, and an operating loss of $20.5 million. Blue Cross Blue Shield, the largest local health plan, had net income of $76.8 million, and operating income of $58.6 million, up from $71.1 million and $57.8 mil- lion in 2016. Richard Burke, president & CEO, Fallon Health Mergers and acquisitions among U.S. hospitals and healthcare systems apparently peaked in 2015, but a report by the Illinois consulting firm Kaufman Hall in October said deals this year could outpace 2016. U.S. hospital and health system mergers and aquisitions Source:Kaufman Hall 0 20 40 60 80 100 120 '10 '15 '11 '12 '13 '14 '16 '17* 65 87 NUMBER OF TRANSACTIONS *As of Q3 W

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